Issue Number: IR-2026-31 Inside This Issue
Treasury, IRS issue proposed regulations for Trump Accounts pilot program, Treasury Department to deposit $1,000 into the account of each eligible child IR-2026-31, Mar. 6, 2026 WASHINGTON – The Department of the Treasury and the Internal Revenue Service today issued proposed regulations providing guidance regarding the pilot program for Trump Accounts, which are a new type of individual retirement account for eligible children. Trump Accounts and the Trump Account Pilot Program were established under the One, Big, Beautiful Bill enacted on July 4, 2025. Pilot program, $1,000 from the Secretary of the Treasury The proposed regulations issued today provide rules on how the Secretary of the Treasury will make one-time $1,000 pilot program contributions to the Trump Accounts of eligible children for whom elections have been made. The proposed regulations provide guidance regarding the effects of making an election for an eligible child to receive a $1,000 contribution and define other qualifications. The proposed regulations will assist individuals who will make elections for eligible children to receive $1,000 pilot program contributions. In order for an eligible child to receive a $1,000 pilot program contribution, an election for a pilot program contribution must be filed by an individual who anticipates the child will be his or her qualifying child for the year during which the election is made, typically a parent or guardian. Therefore, expecting parents who want to participate need to make an election and may be in a situation to do so prior to the tax year in which the child is born. Eligible Children To qualify for the pilot program, the parent or other individual who qualifies to make the election, must elect to establish a Trump Account for the child. The child must: - Be born in calendar year 2025, 2026, 2027, or 2028,
- Be a United States citizen,
- Have been issued a Social Security Number and
- Be someone for whom no prior pilot program election has been made by any individual and processed by the Secretary of the Treasury.
Pilot program-electing individual: Generally, an individual who anticipates the child will be his or her qualifying child for the year during which the election is made, typically a parent or guardian, is the pilot program-electing individual. Form 4547, Trump Account Election(s) is a new form for establishing a Trump Account and for enrolling in the pilot program; those interested should also see the related instructions. Spanish Language versions of the form and instructions are also available. The IRS continues to provide updates and additional information related to the tax benefits from the One, Big, Beautiful Bill at IRS.gov. Visit http://trumpaccounts.gov for more information on Trump Accounts.
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